MEC Company Ltd. · TSE:4971
MEC — Q1 FY2022 Earnings Presentation
21 slides from MEC's earnings presentation, May 10, 2022
Slide 1: Financial Results Briefing for Q1 FYE 12/2022
Financial Results Briefing for Q1 FYE 12/2022 May 10, 2022 MEC COMPANY LTD. Securities code: 4971 https://www.mec-co.com/en/
Slide 2: Notice of Revision of Earnings Forecast (First Half)
Notice of Revision of Earnings Forecast Revision to the first half consolidated earnings forecast for the fiscal year ending in December 2022. (January 1, 2022 to June 30, 2022) Operating Ordinary Net Net sales Net income income income income (million yen) per share (million yen) (million yen) (mill
Slide 3: Notice of Revision of Earnings Forecast (Full Year)
Notice of Revision of Earnings Forecast Revision to the full-year consolidated earnings forecast for the fiscal year ending in December 2022. (January 1, 2022 to December 31, 2022) Operating Ordinary Net Net sales Net income income income income (million yen) per share (million yen) (million yen) (m
Slide 4: Measures against COVID-19 Infection
Measures against COVID-19 Infection Maintaining a system for preventing the spread of infection and continuing to supply products Placing the President as the Head of the Emergency Response Headquarters, and carefully continuing corporate activities according to the circumstances based on the BCP (b
Slide 5: Q1 FYE12/2022 Key factors
Q1 FYE12/2022 Key factors Assumed/actual exchange rate JPY to NTD Assumed rate: 4.16 yen / Actual rate: 4.18 yen (previous year was 3.77 yen) １ JPY to RMB Assumed rate: JPY to EUR Assumed rate: 18.07 yen / Actual rate: 130.51 yen / Actual rate: 18.44 yen (previous year was 16.32 yen) 131.35 yen (pre
Slide 6: Q1 FYE12/2022 Results
Q1 FYE12/2022 Results Unit : million yen Q1 Full-year FYE12.2021 FYE12.2022 FYE12.2021 FYE12.2022 Progress Progress YOY YOY Results Results Results (Forcast) ratio (%) ratio (%) (%) (%) Net sales 3,505 23.3% 3,955 23.8% 450 12.8% 15,038 16,650 10.7% Chemical sales 3,452 - 3,898 - 445 12.9% 14,756 -
Slide 7: Net sales YOY change
6 2022 Q1 ３，９５５ Foreign exchange Other sales 450 million yen, Up 12.8% Financial Results Briefing for Q1 FYE 12/2022 Material sales Machine sales Other solution Etching solution Net sales YOY Adhesion improves 2021 ３，５０５ Q1 Million yen
Slide 8: Operating income YOY change
7 2022 Q1 １，０５１ Foreign exchange （Selling、general and administrative expenses） Selling, general and administrative expenses 77 million yen, Up 8.0 % Foreign exchange （Gross profit） Financial Results Briefing for Q1 FYE 12/2022 Material and Other sales Gross profit Material and Operating income YOY O
Slide 9: Quarterly performance: Sales, Operating income, Operating margin
Quarterly performance: Sales, Operating income, Operating margin (Consolidated) 4,500 35 4,000 30 3,500 25 3,000 2,500 20 2,000 15 （％） (Million yen ) 1,500 10 1,000 5 500 0 0 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 2020 2021 2022 Net sales 2,809 2,891 3,026 3,228 3,505 3,519 4,132 3,881 3,955 Operat
Slide 10: Quarterly composition: Operating income, SG&A, COGS
Quarterly composition: Operating income, SG&A, CODS (Consolidated) 4,500 35 4,000 30 3,500 25 3,000 2,500 20 2,000 15 1,500 （％） 10 (Million yen ) 1,000 5 500 0 0 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 2020 2021 2022 Operating income 498 635 702 533 973 975 1,202 787 1,051 SGA 1,238 1,164 1,209 1,41
Slide 11: Quarterly performance: Product-specific sales
Quarterly performance : Product-specific sales (Consolidated) 4,500 4,000 3,500 3,000 2,500 2,000 (Million yen ) 1,500 1,000 500 0 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 2020 2021 2022 Other 4 1 5 0 2 0 13 6 1 Materials for PCBs 17 16 12 21 16 21 19 33 18 Equipments for PCBs 129 43 62 46 33 16 90 2
Slide 12: Quarterly performance: Chemical sales
Quarterly performance : Chemical sales (Consolidated) 4,500 Adhesion improves : CZ, V-Bond etc. 4,000 Etching solution : EXE, SF etc. 3,500 3,000 2,500 2,000 1,500 (Million yen ) 1,000 500 0 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 2020 2021 2022 Other surface processing solution 109 127 121 91 174 1
Slide 13: Quarterly performance: Chemical shipment volume
Quarterly performance : Chemical shipment volume (Consolidated) 14,000 12,000 10,000 8,000 6,000 4,000 (t) 2,000 0 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 2020 2021 2022 Other surface processing solution 267 269 273 257 384 371 402 394 391 Etching solution 1,955 2,209 2,378 2,471 2,287 2,138 2,470 2
Slide 14: Quarterly performance: CZ series sales
Quarterly performance : CZ series sales 3,000 2,313 2,294 2,403 2,500 1,906 1,964 1,700 2,000 1,562 1,507 1,491 1,500 1,000 (Million yen) 500 0 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 2020 2021 2022 Other CZ 474 446 476 521 579 616 802 747 811 8101 787 820 822 865 1,026 1,038 1,199 1,244 1,276 8100
Slide 15: Quarterly performance: CZ series sales (Composition ratio)
Quarterly performance : CZ series sales （Composition ratio） 100 90 80 70 60 50 40 30 （%） 20 10 0 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 2020 2021 2022 Other CZ 31 30 30 31 30 31 35 33 34 8101 52 55 53 51 54 53 52 54 53 8100 17 15 17 18 16 16 13 13 13 Financial Results Briefing for Q1 FYE 12/2022 14
Slide 16: Quarterly performance: Region-specific sales and overseas sales ratio
Quarterly performance : Region-specific sales and overseas sales ratio 2,000 70 1,800 60 1,600 1,400 50 1,200 40 1,000 30 800 600 20 400 10 (Million yen) 200 (%) 0 0 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 2020 2021 2022 Japan 1,498 1,373 1,410 1,503 1,666 1,496 1,849 1,649 1,579 Taiwan 560 588 660
Slide 17: FYE12/2022 full-year forecast
FYE12/2022 full-year forecast FYE12/2021 FYE12/2022 (53rd term) (54th term) May, 10 2022 Full-year 1H Full-year Profit Profit YOY Profit YOY Amount ratio Amount ratio change Amount ratio change (million yen) (%) (million yen) (%) (%) (million yen) (%) (%) Net sales 15,038 - 7,950 - 13.2 16,650 - 10.
Slide 18: Capital investment, Depreciation expenses and R&D expenses
Capital investment, Depreciation expenses and R&D expenses R&D expenses and Ratio Capital investment Depreciation expenses of consolidated sales 1,600 900 1,500 15.0 818 1,362 1,324 784 1,439 14.0 1,400 800 1,450 742 692 13.0 700 1,400 1,200 1,359 609 12.0 600 1,350 1,323 1,000 11.0 847 11.4 500 1,3
Slide 19: Dividend, payout ratio and ROE
Dividend, payout ratio and ROE Dividend policy Dividend（Forecast） Medium-term goal (consolidated payout ratio) 45.0 yen Q2 end 20 yen 30% Fiscal year-end 25 yen Dividend / Dividend ratio 50 15.4 20.0 39.9 14.4 40 12.0 30.9 15.0 7.9 9.5 30 28.0 22.5 26.7 Dividend（yen） 10.0 20 45 Dividend ratio（%） 35
Slide 20: ESG-H effort
ESG-H effort Environment • Eco friendly products and products that improve yield. • Contribution to the improvement of the PCBs manufacturing environment. Social • Contribution to social development (5G, autonomous driving). • WLB support, Success of women in the work place. Governance • Invitation
Slide 21: Basic policy of capital policy and shareholder return
Basic policy of capital policy and shareholder return In line with the MEC Group's capital policy, we are making the following efforts in order to help improve shareholder value while securing financial soundness. Improvement of corporate value • Continuously improve consolidated ROE based on a leve